Are half an hour into the trading session. Julie hyman has the latest and a different picture today thanks to mario draghi. Some also thanks to retail earnings. Seeing an overall lift in stock markets. All three major averages are trading higher. If you take a look at my terminal, Consumer Discretionary and utilities are the best two performing groups. Consumer discretionary gaining along with those earnings. Utilities doing well as we continue to see that slump in bond yields. We are seeing quite a lot of news coming out. It plans toouncing buy back 12 million of its share. Foot locker out with numbers that Beat Estimates. The shares are rising after it raised its forecast for the full year. The company is putting itself up for sale. That rising in terms of retail. More news in retail. Even though the Company Numbers missed estimates, it cut the fullyear profit forecast. Finally abercrombie fitch, a lot of optimism. It is finally taking hold. Hollister sales, up 3 better than estimated. Hollister makes up half of its overall sales. Lets move over to oil prices, commodity. We have been talking about how many days we have seen oil something for the month of november. You can see oil taking a bit of a leg up in the past few moments. A lot of negative commentary on oil prices this week, not to mention the weekly inventory report, and gold prices. The rally still continuing, lb it in a small way. Apparently it has been priced in. Vonnie quinn has more from the news desk. At least 20 by happen freed from the hotel. Three people have died. Lets go to our bureau chief, in our london newsroom. So far we know this is a much more brave attack than has been happening in the past. We had a shooting in march in the capital, where five people were killed. Nothing like this where civilians are targeted at a very popular place. The u. S. Has confirmed that , american hostages have been safely secured and taken out. The u. S. Does believe it is an Al Qaeda Linked group. Nothing on this particular scale. Does notind of thing happen. Most of the fighting has been. Imited to the north moving to the south, a populated capital, it is a huge step up. No one has claimed responsibility. Our west African Bureau chief in london for us this morning. French Authorities Say rates have been conducted. The interior Ministry Says last ,ight Police Conducted raids detaining 17 people and seizing weapons and drugs did 164 people have them placed in house arrest. The French Senate will vote to extend the state of emergency for three more months. They convicted spy is a free man. He had been serving a life sentence for spying. You can get more on these and other breaking stories 24 hours a day at the new bloomberg. Com. I am vonnie quinn. Thehe euro dropped for after indicating he ran out of patience with low inflation. Not subject not sufficient to achieve our objective, we will do what we must to raise inflation is quickly yes possible. I want to bring and brendan lives and our Frankfurt Bureau with some reaction. Some of the reports reacting to draghi, saying he sounds increasingly worried and desperate about the european economy, is that a right trail . Them i would say worried is better than desperate. If you are going to make a move you have to prepare the markets for that move. There is a very good likelihood that we move by expanding the asset purchasing program, possibly even moving the policy rate in december. If you want to move you have make sure people are going to move. Speeches. D dueling he said what we expected him to say, monetary policies isnt going to fix europe. We need more workforce participation. Draghi agreed with them. She said he said these things they are the only game in town. If he has said these things before, these are largely on the lines of his stance, why does it gain so much attention . It is so explicit the way he laid it out. Also inflation on his radar, core inflation is 1. 1 . It is nowhere near their mandated target. Inflation is at. 1 . The up the argument across these two speeches is how much of an influence is oil on inflation . 1. 1 if you strip that out, is still nowhere near their mandate. What he is stressing as he sees risks skewed to the downside. He thinks in the mediumterm people could get used to low inflation and we could get stuck with it. That is what is new today. Have the odds gone up to near 100 that the ecb is going to add stimulus in the coming weeks . And what the reaction will be in the markets leading up to it . Get to 100 ever because then the move has already happened. A movie today, but it wasnt a huge move. It was a psychological move. We saw the psychological barrier ofone dollar seven area 1. 07. I think this was new confidence. Yes they are becoming increasingly confident there will be a move. You cannot let the markets know. You have to let them know that is where we are heading. Betty it seems like we reacted to it here, maybe less so than in europe. Brenton, thank you so much. Rendon greeley Brendan Greeley come our senior correspondent. Much more ahead in the next two hours. We will be sitting down with three heavyweights. A corporate litigator, legal mind. A former pimco ceo. And a legendary investor. All of them on Bloomberg Markets in the next two hours. Wall street regulators have been stepping up their scrutiny. Andrgan, deutsche bank, credit squeeze are having their leverage practices examined. Reuters says walmart expanded floor by about 45 . Said the Service Definitely needs improvement. Facebook is breaking up a little bit easier. Memoriest to block after the likes turn to something else. You can always get more Business News at bloomberg. Sinces first studio album 2012 for studio album since 2012 drops today. Adele and sony are betting big that this business move is going to pay off. Joining us now is entertainment. Eporter lukas shaw didnt taylor swift do the same thing . She did it with 1980 nine, beyonce did with her previous album. Dell and adele did not put it on spot of five for a while. She held it back to increase album sales. This is a smart move. Projections range from 1. 5 million to 2. 5 million sales in the first week. If it hit 2. 5 million that would be the biggest opening since 1991. If it isquestion is going to have the same longevity. Adele, she had a strong opening but then she won all those grammys. She was the topselling album for two years in a row. What would she have left on the table if she would have allowed streaming services to take on an stream . Have have caused cost some money . May be some of the of people who would stream it will now go out and buy an album. The other one may be a more philosophical argument. She doesnt believe Free Streaming Services should get new music. Album if they her restricted it to pay. It is not clear how much his business and how much is taking space. Pandora is going to stream parts of this . Is actually one of the main points of contention. Pandora gets music through statutory licenses. Ace s pandora plays pandora pays a slightly lower rate. If you are a pandora subscriber, you can actually stream 25 . It is not on demand. Can come up. To mention 25 will be a part of it. Hello is always the first song. There are other winners. It is good for itunes because Digital Sales have been weaker. Target, which had some exclusive deal, expects to sell 700,000 copies. Anybody who is a retailer likes this because it is encouraging them to buy rather than stream. If you look online and see all the places that are selling the album for 1099. 400 build 400 million views in a month. Much more ahead in the next half hour. One of the top lawyers in the country is joining us. He will tell us why he is ready for a fight. Lineup toe new legal take on eric schneiderman. He will also weigh up on aig and the investors who want to break up the company. Is it too big to succeed . Betty we have an update on the attack and molly. I want to turn to our first word news headlines. this is thenie paper we are speaking of p it is published on the website that one doesnt have been killed. And Al Qaeda Affiliated group that has claimed responsibility, this is reported by reuters. We will keep you uptodate with all of the details on this as the hour goes by. It is time for the Bloomberg Business flash, a look at the biggest business stories. Shares are rising today. The Sporting GoodCompany Announcing a buyback program. Nicely splitting its shares. Coming off the most profitable year ever. Shares are soaring. Top by sales at its hollister unit. That it isshows starting to take affect. Showslysis of u. S. Stores the bases growing far faster than staffing. Decade,open in the last expanding space by 45 . Walmart said Customer Service needs improvement. Always get more Business News at bloomberg. Com. It etfs are now 3 trillion in assets and account for nearly 30 of all equity trading volume. Julie hyman is standing by for a deep dive. Is a very timely deep dive. Are starting to pullout money from bond etfs. He is bloombergs etf analyst, so lets start with what is happening now. It is the same thing happening in bonds. , peopleseen bond yields are selling bonds. Eople are im not saying this is another false alarm. There is a threat of a fed rate hike. Expected we see a lot of money coming out at jfk. That means the investors are a little spooked. In addition, money coming out of why, of shy. This makes it different were money moved to the short term. Partsis coming out of all of the curve. Them if you look at the bond market on the longer end, we have seen people coming into the 30 year, because the fed has emphasized numbers on the table are going to be very gradual. That gradual view reflected in bond etf . We are seeing flows to aggregate bond etfs. They are still allocating money going in there. That also saw about 500 million. All of the different areas have seen uploads. Run me through some of where some of the flows are going. A quiet trend is in maturity bonds. Way to an old school play rising rates. 2017, they were actually etfs that matured a certain year. You actually buy them in a set. You put them in the years they have where the rates are higher. It keeps buying at a higher rate. It is plain vanilla. There is nothing funky going on. There are leverage etfs people will use. Listen to the stat on the target bonds. They only had 1,000,000,002 years ago. It was only 10 two years ago. It makes sense that they go to the interesting environment. There is a hedged one. Packaged the one trade for you. The pro shares investment great Interest Rate hedged etf those long Corporate Bonds and short twentyyear treasuries. Institutions have been doing trades like that. Essentially what you get is a duration of zero without any Interest Rate risk at all. In the past month and in any window, these outperform. These are the equivalent. If we see the rates continue to sort of plain vanilla twins, you are going to see a lot to these. Really interesting where the money is going ahead of that december meeting. Sending it back to you. On television, david boyd has defended from the likes of now fighting for draft kings and pimco. He is joining us in just a few moments. The only way to get better is to challenge yourself, and thats what were doing at xfinity. We are challenging ourselves to improve every aspect of your experience. And this includes our commitment to being on time. Every time. Thats why if were ever late for an appointment, well credit your account 20. Its our promise to you. Were doing everything we can to give you the best experience possible. Because we should fit into your life. Not the other way around. Betty youre watching bloomberg television, im betty liu. Lets start with first word news this morning. Bonnie vaughn vonnie quinn has more from the news desk. Vladimireek begin with putin and president obama. They agree on bombing the terror groups oil. Obama has refused the russian leaders offered to courtney, but the u. S. And russia are both targeting the Islamic State facilities. That is where the group gets much of its fronting funding. Inquiries to the army website day gone from 500 to 1500 a. The french army currently has 112,000 troops. This weekend, nato is testing alliances ability to defend against terror attacks cyberattacks from rogue states. Nato countries are concerned that terrorists are combining cyber warfare with more conventional tactics. The senate hasnt indicated whether it will take up the bill that temporarily blocks syrian and iraqi refugees from entering the u. S. The house passed the measure overwhelmingly yesterday. Has puteaker paul ryan off the polls from the refugee Settlement Program for six months. President obama will veto it. Some u. S. States arent just opposed to new Syrian Refugees resettling interstates. They also want to take a close look at the ones already living there. Bobby jindal has ordered police to monitor 14 syrians for threat. Is investigating 59 refugees living in the state. That is a look at first word news right now. You can get more on these and other breaking story 24 hours a day on the new bloomberg. Com. From the bloomberg first word us, vonnie quinn. Betty vonnie quinn at the news desk. A storm over Fantasy Sports. Will knownd fanduel my things getting whether they will have feast or famine for fans in the biggest market in new york. They are set to square off before a judge in manhattan bit on the member 25th. While fanduel has been playing a nice, drafting is ready for a fight. Drafting is making a big that we are joined by david himself in the studio. David, great to see you. I know this is front and center for you, Fantasy Sports. Why have draft kings, why have they decided to be so antagonistic . David they are not being antagonistic at all. All they are doing is what they have been doing for years openly in new york. For more than 80 years, daily Fantasy Sports competitions have been authored offered to new 8 years, 48for for the last four years or so, by draft king. No one ever suggested, not the Attorney Generals Office, not in the public officials, no one ever suggested that these games were in any way a legal right not a hint of that. Betty until they started making hundreds of millions of dollars. David that has been going on for a long time. Whether you have 15 million or 20 million in entry fees doesnt determine whether what you are doing is legal or illegal. This is not something that was not open. Everyone knew what was going on. My children, i suspect the children of some of the people in the Attorney Generals Office regularly play this game. Betty they have been on a, pick their fantasy players. You mentioned the smaller players. Order fromand desist the Attorney Generals Office. Im not sure that is exactly accurate. For example, yahoo , the number their player, is continuing to operate. I dont know anyone other than fanuel that has suspended their operations good most people like draft king who believe their customers enjoy these games only to play them it is a form of entertainment. Betty i agree with you him about why not hold off and say we will sacrifice a few days or a few weeks of operations until it is very clear in new york before restarting again . David remember this has a very clear in new york for eight years. Ordinarily, you dont change the status quo until you get a change in the law. The attorney general can change his mind as to whether or not this is legal, but he cant change the law. That is up to the legislature. All we are saying is what any business would say are any business would say is if you want to change the law, go to the legislature. Dont do an aboutface and say we had to turn off your business returning on and turning off a business is not as simple as turning on a light switch. We cant just say we are going to close shop for a while. Betty what is a good copper mice . Compromise . David i think a good compromise is what, for example, Massachusetts Attorney general is trying to do. Massachusetts attorney general has been looking at this a lot longer than the new York Attorney general. Attorneymassachusetts general has said is that this is obviously not illegal gambling but there are issues that need to be addressed. We dont agree completely, obviously, with what the Massachusetts Attorney general wants to do in terms of radiation, but we recognize that that is a sensible way to approach it, a middle ground. Betty she had said there is limits on advertising to people 21 and over and other types of restrictions. David, lets move on to the other cases that you are working on. , whatpresent pimco theater and drama is going on in the filing by pimco which you prepared . Throughout the case, you said it is reputational warfare. You do not give up easily. What is go to trial . We dont think it should go to trial. Whether or not this is a legal case is something the judge is going to decide. As we have said in our papers, this really is not a legal case. This kind of battle over betty why is a not a legal case . He said he said . David it is an argument between a legendary bond trader who founded a great company, pimco, and the company he founded over who said what, it is always difficult when a founder doesnt want to abide by the rules that everybody else has to abide by. Company, he the left the company in a situation in which i think is rotation suffered some his reputation suffered some damage. He wants to cover the damage. That is understandable from a human standpoint. That is not the place to do that. The courts are the place to decide legal questions. Betty are you confident this could be settled . David i dont know about settled, but it ought to be resolved. This is not the kind of argument about a founder and